Capitol to Courthouse Florida Insurance Report–Monday, September 29, 2014
Sep 29, 2014
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There are no events scheduled for today.
Long-sought regulations on Florida’s commercial parasailing industry, along with a measure about crimes against unborn children, are among 32 laws that go into effect Wednesday, THE NEWS SERVICE OF FLORIDA’s Jim Turner reports via the Panama City News-Herald.
Florida’s Citizens Property Insurance needs to do a better job educating consumers about the changes being introduced, the Sun-Sentinel Editorial Board writes, adding that the Legislature ought to be asking the bigger question: Is the overriding goal of shrinking Citizens good for consumers?
South Florida homeowners concerned about the rising cost of their flood insurance are being encouraged by the state to find out whether a policy written by a private company can save them money, the Sun-Sentinel’s Ron Hurtibise reports.
A recent audit disclosed areas in which improvements in Citizens’ Property Insurance IT controls and operational processes were needed, InsuranceNewsNet.com reports.
Last year, Ft. Lauderdale Station 2′s seven units – two engines, two rescue trucks, a ladder truck and two vehicles for chiefs – responded to more than 25,000 calls, ranking it above Los Angeles at No.2 and Baltimore at No.3, the Miami Herald’s Carli Teproff reports via Insurance Journal.
Trying to collect a $110 million verdict against two Florida nursing home companies has led a family on a four-year odyssey through a maze of private-equity firms and shell companies to a bankruptcy court trial that was set to begin last week, Bloomberg’s Margaret Cronin Fisk reports via Insurance Journal.
Governor Rick Scott‘s staff nearly reached a multi-billion dollar deal with the Seminole Indian tribe that would have allowed it to add roulette and craps at its South Florida casinos, documents obtained by The Associated Press show. Gary Fineout reports via SaintPetersBlog.com.
Environmental issues are important to Floridians, ranking among the top five issues facing the state, according to a recent University of South Florida survey, Jenna Buzzacco-Foerster reports for the Tampa Tribune.
As Florida House Speaker Will Weatherford departs the political scene, he sounds like a man focused more on now than later, Tampa Tribune’s James Rosica reports via InsuranceNewsNet.com.
Charlie Crist is launching a “kitchen table” tour in the final days of the Florida governor’s race, SaintPetersBlog.com’s Peter Schorsch reports.
Steyer, a hedge-fund manager and environmental activist, is spending tens of millions of dollars in Florida and six other states to ensure climate change becomes the kind of wedge issue that tips elections, Tampa Bay Times’ Adam Smith explains.
Florida Governor Rick Scott has been joined on the campaign trail by members of the Florida Cabinet. All four Republicans – Scott, Bondi, Putnam and Chief Financial Officer Jeff Atwater – are up for re-election this year, Jenna Buzzacco-Foerster reports for the Naples Daily News.
The fate of the federal terrorism insurance backstop and an initiative to streamline licensing of interstate agents and brokers won’t be known until November at the earliest, Mark A. Hofmann reports for Business Insurance.
The U.S. Treasury’s Federal Insurance Office has a message for the National Association of Insurance Commissioners on the issue of captive life reinsurance: We’re keeping an eye on you. Cyril Tuohy reports for InsuranceNewsNet.com.
U.S. Senators Dean Heller (R-NV) and Jon Tester (D-MT) along with Congressmen Bill Huizenga (R-MI) and Gregory Meeks (D-NY) introduced a resolution in both the United States House of Representatives and the United States Senate to promote an open and transparent process with regard to the recent proposal introduced by the International Association of Insurance Supervisors to prohibit public observers from their meetings, InsuranceNewsNet.com reports.
Lloyd’s Chairman John Nelson is justifiably pleased with the current state of the Lloyd’s market. Shortly after Insurance Journal’s Charles E. Boyle interviewed him at the Reinsurance Rendezvous in Monte Carlo, Lloyd’s announced a $1.67 billion [$2.72 billion] profit for the first half of 2014.
Insurance firms will not get regulatory approval unless they can prove they have rigorously estimated the risks they face across their business, Bank of England boss Mark Carney told the United Kingdom’s City A.M. (via Advisen.com).
Lyft Inc., Uber Technologies Inc. and Sidecar Technologies Inc. were warned by San Francisco’s district attorney they would face legal action if the rideshare services don’t change their operations, Bloomberg’s Edvard Pettersson reports via Insurance Journal.
CSAA Insurance Exchange, which sells private auto insurance to AAA members in about 25 states, experienced double-digit year-over-year growth in personal auto business, far outpacing other top writers in the second quarter, a new analysis by SNL Financial shows. Insurance Journal reports.
The Massachusetts Division of Insurance issued a bulletin this week notifying the state’s insurance producers of recent changes to the continuing education requirements, Insurance Journal reports.
New Hampshire Insurance Commissioner Roger Sevigny chaired the first meeting of the Commission to Recommend Reforms to Reduce Workers’ Compensation Medical Costs, InsuranceNewsNet.com reports.
U.S. insurance companies, which have been lobbying the government for an increase in the overseas investment limit for more than a decade, are worried that a clause in the Insurance Bill to facilitate this related to management and control may hamper the initiative, Vikas Dhoot reports for The Economic Times.
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